This paper explores some of the links between macroeconomic policy and industrial strategy. The perspective of the present paper is to emphasis the role of the output and investment activities of enterprises rather than the general focus on the labour market in the determination of economic...

This paper traces the history and the institutional background of European integration to the establishment of the economic and monetary union in the European Union (EU). After the establishment of the European Economic Community (EEC) in the late 1950s, attempts at monetary integration, and...

The euro was adopted as legal tender, albeit in a virtual form, by eleven countries of the European Union on January 1, 1999, with the intention that notes and coins denominated in euros would be introduced and the national currencies would be phased out during the first six months of that year...

This paper proposes an alternative stability and growth pact among European Union (EU) governments that would underpin the introduction of a single currency and a "single market" within the EU. The alternative pact embraces a number of new aspects of integration within the EU that are based on a...

The initial introduction of the euro has, against many expectations, been accompanied by a decline in the value of the euro (notably vis-à-vis the dollar and sterling). It has also been introduced at a time of high levels of unemployment within most of the European Union (EU). This paper...

In this paper we seek first to set out the economic analysis that underpins the ideas of what has been termed the third way. The explicit mention of the third way is much diminished since the early days of the Blair government in the UK and the Schroeder government in Germany. We argue that the...

Within the framework of macroeconomic policy and theory over the past twenty years or so, a major shift has occurred regarding the relative importance given of monetary policy versus fiscal policy. The former has gained considerably in stature, while the latter is rarely mentioned. Further,...